PPG Finalizes Separation of Commodity Chemicals Business and Merger
of the Business with Georgia Gulf; Company Accepts Shares Tendered in
Exchange Offer

January 28, 2013 10:43 AM Eastern Time

PITTSBURGH--(BUSINESS WIRE)--PPG Industries (NYSE: PPG) today announced the successful closing of the
previously announced separation of its commodity chemicals business and
merger of its wholly-owned subsidiary, Eagle Spinco Inc., with a
subsidiary of Georgia Gulf Corporation (NYSE: GGC). Pursuant to the
merger, Eagle Spinco, the entity holding PPG’s former commodity
chemicals business, is now a wholly-owned subsidiary of Georgia Gulf.
The closing of the merger followed the expiration of the related
exchange offer and the satisfaction of certain other conditions. The
combined company formed by uniting Georgia Gulf with PPG’s former
commodity chemicals business will be named Axiall Corporation and will
be traded on the New York Stock Exchange under the ticker symbol AXLL.

In the merger, each share of Eagle Spinco common stock was automatically
converted into the right to receive one share of Georgia Gulf common
stock. As a result, PPG shareholders who tendered their shares of PPG
common stock as part of the exchange offer received 3.2562 shares of
Georgia Gulf common stock for each share of PPG common stock exchanged
and accepted by PPG.

Pursuant to the exchange offer, which expired today at 8:00 a.m., New
York City time, PPG has accepted 10,825,227 shares of PPG common stock
in exchange for 35,249,104 shares of Eagle Spinco common stock. Because
more than 10,825,227 shares of PPG common stock were tendered, all
shares of Eagle Spinco common stock owned by PPG are being distributed
in the exchange offer, and no shares of Eagle Spinco common stock were
distributed as a pro rata dividend.

In connection with the separation of PPG’s commodity chemicals business
and its merger with Georgia Gulf, PPG also received approximately $900
million in cash. As a result of the successful exchange offer, PPG will
reduce its outstanding shares of common stock by 10,825,227 shares, or
approximately 7 percent.

PPG will report the results of its commodity chemicals business for
January 2013 and a net gain resulting from the separation as results
from discontinued operations when it reports its results for the quarter
ending March 31, 2013. In the PPG results for prior periods, presented
for comparative purposes beginning with the first quarter 2013, the
results of its former commodity chemicals business will be reclassified
from continuing operations and presented as the results from
discontinued operations.

PPG: BRINGING INNOVATION TO THE SURFACE.(TM)

PPG Industries' vision is to continue to be the world’s leading coatings
and specialty products company. Through leadership in innovation,
sustainability and color, PPG helps customers in industrial,
transportation, consumer products, and construction markets and
aftermarkets to enhance more surfaces in more ways than does any other
company. Founded in 1883, PPG has global headquarters in Pittsburgh and
operates in nearly 70 countries around the world. Sales in 2012 were
$15.2 billion. PPG shares are traded on the New York Stock Exchange
(symbol: PPG). For more information, visit www.ppg.com.

Forward-Looking Statements

Statements in this news release relating to matters that are not
historical facts are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 reflecting PPG
Industries’ current view with respect to future events or objectives and
financial or operational performance or results. These matters involve
risks and uncertainties as discussed in PPG Industries’ periodic reports
on Form 10-K and Form 10-Q, and its current reports on Form 8-K, filed
with the Securities and Exchange Commission (the “SEC”). Accordingly,
many factors could cause actual results to differ materially from the
company’s forward-looking statements. This news release also contains
statements about PPG Industries’ agreement to separate its commodity
chemicals business and merge it with Georgia Gulf Corporation or a
subsidiary of Georgia Gulf (the “Transaction”) and its offer to exchange
shares of PPG common stock for shares of Eagle Spinco Inc. common stock
(and ultimately shares of Georgia Gulf common stock) (the “Exchange
Offer”). Many factors could cause actual results to differ materially
from the company’s forward-looking statements with respect to the
Transaction and the Exchange Offer, including the number of shares of
PPG common stock tendered and accepted; the number of shares of Eagle
Spinco (and ultimately Georgia Gulf) common stock issued in the Exchange
Offer; the ultimate pricing, discount and other parameters of the
Exchange Offer; the parties’ ability to complete the Transaction on
anticipated terms and schedule, including the ability of PPG to
successfully complete the Exchange Offer; risks relating to any
unforeseen liabilities, future capital expenditures, revenues, expenses,
earnings, synergies, economic performance, indebtedness, financial
condition, losses and future prospects; business and management
strategies for the management, expansion and growth of Georgia Gulf’s
operations; Georgia Gulf’s ability to integrate PPG’s commodity
chemicals business successfully after the closing of the Transaction and
to achieve anticipated synergies; and the risk that disruptions from the
Transaction will harm PPG’s or Georgia Gulf’s business. Consequently,
while the list of factors presented here is considered representative,
no such list should be considered to be a complete statement of all
potential risks and uncertainties. Unlisted factors may present
significant additional obstacles to the realization of forward-looking
statements. Consequences of material differences in results as compared
with those anticipated in the forward-looking statements could include,
among other things, business disruption, operational problems, financial
loss, legal liability to third parties and similar risks, any of which
could have a material adverse effect on PPG’s consolidated financial
condition, results of operations or liquidity. Forward-looking
statements speak only as of the date of their initial issuance, and PPG
does not undertake any obligation to update or revise publicly any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as otherwise required by applicable
law.

Additional Information and Where to Find It

This communication does not constitute an offer to buy, or solicitation
of an offer to sell, any securities of Georgia Gulf, PPG's commodity
chemicals business or PPG. In connection with the Transaction, Georgia
Gulf has filed with the SEC a registration statement on Form S-4 that
includes a prospectus of Georgia Gulf relating to the Transaction. In
addition, Eagle Spinco Inc., a subsidiary of PPG Industries, has filed
with the SEC a registration statement on Form S-4 and S-1 that includes
a prospectus of the PPG commodity chemicals business relating to the
Transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE
REGISTRATION STATEMENTS AND PROSPECTUS, AND ANY OTHER RELEVANT
DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT GEORGIA
GULF, PPG’S COMMODITY CHEMICALS BUSINESS AND THE TRANSACTION. Investors
and security holders may obtain these materials and other documents
filed with the SEC free of charge at the SEC’s website, www.sec.gov.
In addition, copies of the registration statements and prospectus may be
obtained free of charge by accessing Georgia Gulf's website at www.ggc.com
and clicking on the “Investors” link and then on the “SEC Filings” link,
or upon written request to Georgia Gulf, Georgia Gulf Corporation, 115
Perimeter Center Place, Suite 460, Atlanta, GA 30346, Attention:
Investor Relations, or from PPG upon written request to PPG, PPG
Industries, Inc., One PPG Place, Pittsburgh, PA 15272, Attention:
Investor Relations. Shareholders also may read and copy any reports,
statements and other information filed by Georgia Gulf, PPG or Eagle
Spinco with the SEC at the SEC public reference room at 100 F Street,
N.E., Washington, DC 20549. Please call the SEC at 1-800-SEC-0330 or
visit the SEC's website for further information on its public reference
room.

Bringing innovation to the surface is a trademark of PPG
Industries Ohio, Inc.

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